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Snap-on plans to issue fixed-rate notes via three bookrunners
By Devika Patel
Knoxville, Tenn., Feb. 20 – Snap-on Inc. plans to price dollar-denominated fixed-rate notes, according to a 424B5 filing with the Securities and Exchange Commission.
The notes will have a make-whole call and then a par call.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. are the bookrunners.
Proceeds will be used to purchase for cash any and all of the company’s 6.7% senior notes due 2019, to repay a portion of the company’s outstanding commercial paper and for general corporate purposes.
The tool and equipment manufacturer is based in Kenosha, Wis.
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